The trend is simple but true, late model farm equipment in very good condition is selling well here late in 2018.
Very well.
More tangible proof yesterday (December 28, 2018) on the farm retirement auction for Elvin and Bernadine Domann in Winchester, KS (northeast Kansas) by my good friends at Younger Auction Company (http://www.youngerauction.com). Here are a few sale price highlights from the auction yesterday, along with notes providing context:
2015 John Deere S670 4WD Combine, 767 engine hours, ext. warranty to 8/20: $237,500
Pete's Notes: $237,500 is the highest auction sale price this year on John Deere S670's. The Avg. Auction Price on 2015 model S670's this year = $164,350. Avg. Auction Price last year: $177,370. Current Avg. Dealer Advertised Price on 2015 model S670's = $233,225.
2017 John Deere 8370R, 194 hours, IVT, warranty to 5/20: $258,000
Pete's Notes: $258,000 is highest auction sale price this year on John Deere 8370R's and the 2nd highest auction price ever. Highest auction price on 8370R was $300,000 on 3/30/17 farm auction in west-central Texas (2016 model, 265 hours, IVT, ILS, warranty to 9/27/20 or 3000 hours). Avg. Auction Price this year on John Deere 8370R's = $205,857. Current Avg. Dealer Advertised Price on 2017 model 8370R's = $291,332. Link to "Tractor Specs" on John Deere 8370R's: https://www.machinerypete.com/specs/john-deere/8370r/7712
2014 John Deere 8370RT, 1250 hours, IVT: $215,000
Pete's Notes: $215,000 is 2nd highest auction sale price this year on 8370RT. Highest auction price this year was $235,000 (8/15/18 farm auction in southeast Minnesota, 2015 model, only 737 hours). Current Avg. Dealer Advertised Price on 2014 model 8370RT = $252,342. Link to "Tractor Specs" on 8370RT's: https://www.machinerypete.com/specs/john-deere/8370rt/7713
2017 Kinze 1100 grain cart, 36" tracks: $87,000
Pete's Notes: $87,000 is new record high auction sale price on Kinze 1100 grain cart. Previous high auction sale price on Kinze 1100 was $67,200 on 10/4/17 online auction in southeast Minnesota (2013 model).
2015 John Deere DB60 36R-20 planter: $173,500
Pete's Notes: Compare this $173,500 sale price yesterday on northeast Kansas farm auction to the 2015 model DB60 36R-20 planter (done 5K acres) sold on 8/22/17 auction in northwest Iowa, Good condition, for $145,000.
As I said, buyer demand for very good condition late model used farm equipment remains strong here late in 2018.